PAVE vs. SPGP
Compare and contrast key facts about Global X US Infrastructure Development ETF (PAVE) and Invesco S&P 500 GARP ETF (SPGP).
PAVE and SPGP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PAVE is a passively managed fund by Global X that tracks the performance of the INDXX U.S. Infrastructure Development Index. It was launched on Mar 6, 2017. SPGP is a passively managed fund by Invesco that tracks the performance of the S&P 500 GARP Index. It was launched on Jun 16, 2011. Both PAVE and SPGP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: PAVE or SPGP.
Key characteristics
| PAVE | SPGP | |
|---|---|---|
| YTD Return | 8.53% | 1.68% |
| 1Y Return | 36.17% | 18.56% |
| 3Y Return (Ann) | 13.96% | 6.38% |
| 5Y Return (Ann) | 18.54% | 13.75% |
| Sharpe Ratio | 2.14 | 1.24 |
| Daily Std Dev | 16.68% | 13.63% |
| Max Drawdown | -44.08% | -42.08% |
| Current Drawdown | -6.05% | -6.93% |
Correlation
The correlation between PAVE and SPGP is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
PAVE vs. SPGP - Performance Comparison
In the year-to-date period, PAVE achieves a 8.53% return, which is significantly higher than SPGP's 1.68% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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PAVE vs. SPGP - Expense Ratio Comparison
PAVE has a 0.47% expense ratio, which is higher than SPGP's 0.36% expense ratio.
Risk-Adjusted Performance
PAVE vs. SPGP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X US Infrastructure Development ETF (PAVE) and Invesco S&P 500 GARP ETF (SPGP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
PAVE vs. SPGP - Dividend Comparison
PAVE's dividend yield for the trailing twelve months is around 0.63%, less than SPGP's 1.35% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAVE Global X US Infrastructure Development ETF | 0.63% | 0.68% | 0.84% | 0.48% | 0.44% | 0.67% | 0.78% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% |
SPGP Invesco S&P 500 GARP ETF | 1.35% | 1.24% | 1.22% | 0.69% | 1.10% | 0.86% | 0.95% | 0.68% | 0.89% | 1.12% | 1.52% | 2.11% |
Drawdowns
PAVE vs. SPGP - Drawdown Comparison
The maximum PAVE drawdown since its inception was -44.08%, roughly equal to the maximum SPGP drawdown of -42.08%. Use the drawdown chart below to compare losses from any high point for PAVE and SPGP. For additional features, visit the drawdowns tool.
Volatility
PAVE vs. SPGP - Volatility Comparison
Global X US Infrastructure Development ETF (PAVE) and Invesco S&P 500 GARP ETF (SPGP) have volatilities of 4.22% and 4.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.